Member Info for ocelot

If holders have the cash, they can exercise without selling or they can choose to sell part and hold the balance.

Lemonleaf,

Maybe there will be an RNS from the company on Tuesday re the exercise of warrants, who knows?

To date, there has been no such RNS.

My point is that the title of this thread may be out of place given that there are more than £2m of warrants to be exercised.

Need to wait for RNSs from the company to know when they are exercised, given that their exercise changes the number of shares in issue.

Lemonleaf,

They do have to be exercised before they can be sold - the date of exercise is determined by the company.

ie. a total of 1,650,000 warrants:

50% at 1.20p = £990k
25% at 1.35p = £556.9k
25% at 1.50p = £618.8k

Total = £2,165.7k (see RNSs of 27/01/21 and 01/02/21).

Don't forget the approx £2m of warrants exercisable between 1.20p and 1.50p - with the share price at these levels, it must be tempting for warrant holders to exercise their warrants.

Neither Saddam nor Putin need(ed) to bury loads of oil and gas for a rainy day, it has/had already been buried in Iraq and Russia for them.

Perhaps someone could work out what % of "energy security" UKOG provides to the nation? Or is it 0.000708%?
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Think it's more a question of how UKOG (and its peers) could contribute to the UK's energy security in the future if the political will is there to make things happen.

wizard, I take your point but simply don't know who the farm-out will involve or what the terms will be.

In the event of success, Loxley is a potentially big prize. Given the current context of the natural gas market, I believe UKOG should have received quite a number of expressions of interest from different parties.

As always, we shall see.

PS: I should add: I assume 100% but do not know this.

You obviously don't know the answer to this question "Given that Loxley-1 is only just under 2 km from PEDL235 how much of that 10km is actually ours?"
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Don't claim to know what I don't know.

UKOG described the gas field as follows in the information it provided to local residents entitled "Facts about Loxley-1" dated 25/09/18:

Our primary objective at Loxley-1 is to appraise the gas discovery made in the 1980s at Godley Bridge, which extends for about 10km and underlies Dunsfold aerodrome.

If you seek an answer to your question, can I suggest you put it to someone who is better qualified to answer than myself, UKOG?

https://www.ukogplc.com/ul/5f426da774844_200_Facts_about_Loxley-1_Boards_250319.pdf

Thought for a long time ANGS was heading towards a market cap of about £200m, but this was before they acquired the remaining 49% of Saltfleetby and before the most recent hike in the price of natural gas.

I see Jamesthesecond has spoken of £300m, think he may be right.

Further out, think management's objective may be to make of ANGS a mid-cap stock (but this would include an increase in share capital via share-financed external growth).

My guess is that 20p is a forecast that hasn't been updated for several years and goes back to the time before GL.

If my POST begins this way, ...

I was replying to your Fri 18:16 post. Particularly "Liz Truss pledges to overturn ban on fracking in bid to end reliance on foreign energy imports
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Ibug,

My 18:16 post of Friday begins:

'Energy security starts at home, which is why we must radically boost our domestic supplies,' said Liz Truss.

If my begins this way, it is because this is the statement of Liz Truss to which I sought to draw attention.

If you wish to concentrate on other content of the article from which this quotation is extracted, that is your choice.

UKOK have Loxley all ready to go and yet no sign of action to even comply with the conditions set by the results of the appeal.
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With respect to the June 7(th) 2022 grant of planning consent for the Company's 100% owned Loxley gas appraisal project the Company will now implement a pre-planned farmout programme, whereby the Company's costs would be either fully or part carried by any farminee. The Company believes that this is the most prudent course of action to both manage uncertainty and to help ensure the best use of the Company's working capital. (RNS of 20/07/22).

Ibug, shareholders await further news from the company re the pre-planned farmout programme.

With thanks to Legalease on the ANGS board:

Caroline Bain, chief commodities expert at Capital Economics, said the UK was “walking an absolute tightrope this winter”.
“If we get some cold spells, or a further tightening [of supply], Europe is going to have to look at rationing,” she said. “As an economist, it is difficult to forecast because this is completely uncharted territory. It’s unlike anything we have seen before. The oil shocks of the 1970s were nothing on the scale of what we are seeing with gas now.”

The Independent, this am ...

Tweet from Sir John Redwood (with thanks to Lemonleaf on the ANGS board):

Getting more oil and gas out from domestic sources should be a national crusade. We need it to fight the cost of living crisis and to combat Putin's economic warfare. We should not be relying on more LNG imports at sky high prices which is worse for our pockets and environment.
6:09 am · 27 Aug 2022

ocelot
Not that old chestnut again. Perhaps you could explain how fracking is going to help UKOG?
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Ibug,

In the article, Liz Truss is quoted as saying:

'Energy security starts at home, which is why we must radically boost our domestic supplies'.

That seems to me to be an entirely sensible statement which needed to be said.

I fail to see why environmental activists are so keen for the UK to rely on energy imported from outside the country.

Do you have any constructive opinions concerning the sources of the UK's energy?